NXT Energy Solutions Completes Convertible Debenture Offering

NXT Energy Solutions Inc. has finalized the last tranche of its private placement of convertible debentures amounting to US$900,000. The debentures were issued to Ataraxia Capital, totaling US$400,000 in this final phase, with conditional approval from the Toronto Stock Exchange. These debentures have an annual interest rate of 10% and are convertible into common or preferred shares at a rate that could yield Ataraxia up to 3,750,000 common shares.

The funds from these debentures will support NXT's working capital for upcoming SFD® surveys in Africa and Southeast Asia, covering administrative expenses. Ataraxia now holds US$2,300,000 in debentures, giving them potential control over 14.7% of NXT's common shares.